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May 23 2007

NUCRYST Pharmaceuticals appoints Barry M. Heck Executive Chairman

Wakefield, Massachusetts – May 23, 2007  – NUCRYST Pharmaceuticals Corp.’s Board of Directors announced today that Barry M. Heck has been appointed Executive Chairman, effective immediately. Previously, Mr. Heck was non-executive Chairman of NUCRYST. In an effort to enhance shareholder value, Mr. Heck will work closely with senior management on a number of initiatives including planning, corporate development and partnering strategies.  

Mr. Heck has held a variety of senior executive positions at The Westaim Corporation over the past 10 years. Most recently, he served as President & CEO of The Westaim Corporation, playing a pivotal role in NUCRYST’s 2005 Initial Public Offering. Mr. Heck has also held the position of Westaim’s Senior Vice President and President of Westaim’s iFire Technology division.

NUCRYST Pharmaceuticals (NASDAQ: NCST; TSX: NCS) develops, manufactures and commercializes medical products that fight infection and inflammation using its patented atomically disordered nanocrystalline silver technology. Smith & Nephew plc sell a range of advanced wound care products under their Acticoat™ trade mark: Acticoat™ products incorporate NUCRYST’s SILCRYST™ coatings and are sold in over 30 countries. NUCRYST is also developing pharmaceutical products to address medical conditions that are characterized by both infection and inflammation. The Company has developed its proprietary nanocrystalline silver in a powder form for use as an active pharmaceutical ingredient, referred to as NPI 32101.

Acticoat™ is a trademark of Smith & Nephew plc
SILCRYST™ is a trademark of NUCRYST Pharmaceuticals Corp.

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For more information contact:
David Wills
Investor Relations
(416) 504-8464
info@nucryst.com
www.nucryst.com

This news release may contain forward-looking statements within the meaning of securities legislation in the United States and Canada.  These statements are based on current expectations that are subject to risks and uncertainties, and the Company can give no assurance that these expectations are correct.  Various factors could cause actual results to differ materially from those projected in such statements, including but not limited to: the initiation, timing, progress and results of our preclinical and clinical trials, research and development programs; our ability to implement our business model and strategic plans for our business, product candidates and technology; our ability to establish and  maintain corporate collaborations; changes in general economic conditions; financial considerations; other risks and uncertainties unidentified at this time; and management’s response to these factors.  The Company disclaims any intention or obligation to revise forward-looking statements whether as a result of new information, future developments or otherwise. All forward-looking statements are expressly qualified in their entirety by this cautionary statement.

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